Recently we have been hearing from our clients and readers who are wanting to upgrade their condo living by selling their current condo and buying something new. However, they are somewhat confused as to why they are having a hard time finding new construction condo options with all the cranes and construction they see in Seattle.
Well, perfect subject for a blog post. Let me help you out if you are looking for a new construction pre-sale condo option and provide a few tips and things to keep in mind.
The options: there are only three! Despite all the cranes, road closures, detours, and construction around town, the vast majority of what you see in our city are either office buildings, rental apartment buildings, or are related to work on the new tunnel and removal of the viaduct and phase two of the Mercer mess traffic project. There are only three new construction pre-sale condo options to choose from that are under construction and where you might have a chance to pick your interior color schemes, etc.
Insignia Towers- For those looking for high end, in-city condo living in downtown, this is your only option currently for new construction pre sales.
- High-end luxury high rise
- Full amenity package including 24 hour concierge, fitness center, swimming pool, etc
- Two 41 story towers with lots of views of city, water, mountains
- Concrete and steel construction with glass curtain wall exterior
- Expensive, but worth it
- Prices from mid $400’s up to several million dollars
- Completion Date: Early 2015 for their phase one, which is just the south tower
- Number of unit sold: 120 out of 350 in phase one (the south tower); about 34% sold in that phase
Solo Lofts- For those looking for a smaller boutique style condo building, Solo Lofts might be a good fit. With only 20 units and a great location in Ballard, this is Ballard’s only option that will be completed within the next 12 months.
- Boutique building without a ton of amenities, except for a nice roof top terrace
- Lofted units have tall 18 foot ceilings
- Parking is included with roughly half of the 20 units
- Finishes appear to fairly modern and are at upper end of the spectrum
- Completion: They are schedule for completion in spring of 2015
- Number of Units Sold: 5 out of 20; 25% sold currently
Vik Condominiums– Also located in Ballard with an ideal location near all the action, The Vik is the city’s newest release of pre-sale new construction condos. With 117 units, it does have a few more amenities than its Ballard counterpart, Solo Lofts, but also has a bit higher price point as well.
- Amenities include a concierge staff, gym, roof top terrace, and a doggie area on the roof with views as well
- Interiors are upper-end of the spectrum and might rival some of the downtown high rises as far as finishes go
- Wine refrigerators in most units
- Most units have decks or terraces
- USB charging stations are standard
- All units come with parking (except for a few of the junior one bedrooms)
- Kitchens and baths have well designed cabinets & end wrap hard surface counter tops
- Completion: They are scheduled for completion in fall of 2015 (18 months from time of this post)
- Number of Units Sold: Starting pre-sales and purchase contracts in a few weeks – only taking some early reservations at this point
Other new construction options that are completed and not pre-sales?
If a pre-sale doesn't fit your schedule, but you are still wanting new, and you have the budget well above $1 Million, there are still two condo buildings downtown that have a few remaining new units that are complete that are for sale and available for move in now.
- Four Seasons Private Residences- West Edge neighborhood near the Pike Market on Union Street
- New units remaining range from $1.438 Million to over $7.115 Million
- Escala Condominiums- In Midtown near the downtown shopping core at 4th & Virginia
- New Units ranging from $1.299 Million -$6.599 Million
Before you take the plunge into a new construction pre-sale condo purchase, make sure it's the right fit for you. And planning ahead is important if you are looking to sell a house or condo before you complete your new condo purchase.
For tips on selecting the right new construction unit within a building, see our previous post on the topic.
We will update as new condo projects come on line so check back often.
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.